(Beaver Dam) The Beaver Dam Common Council Monday night approved a plan that will pave the way for the old hospital and an adjacent property to be developed into high-end, lakefront condominiums. The council approved an agreement with the Beaver Dam Community Hospital to purchase the shuttered Lakeview Hospital on La Crosse Street for $225-thousand dollars. The costs will be paid for with revenue generated though a planned Tax Increment Finance District established around the new condo parcel. The new development is expected to add $4-million dollars to the tax rolls. Money from TIF #9 would also be used to pay for the $1.2-million dollars needed to raze the hospital.
Alderman Ken Anderson cast the lone dissenting vote citing concerns with non-disclosure agreements in the contract and saying that the city should have had the hospital pay to demolish the dilapidated structure. Council President Robert Ballweg disagreed with Andersons position saying that it would not be advantageous because if the property owner chose not to pay for the demolition up front, the city would have to demolish the structure and assess the removal back to the hospital. A municipality cannot pass more than $7500 a year onto a property owner through the annual tax bill, which he says would take decades. Ballweg called the overall redevelopment a win-win.
The council also approved a separate resolution to sell the nearby Executive Apartment site at 600 West Third Street. The recently demolished structure was the scene of a fire this spring that resulted in two deaths. Both parcels are being sold to JCW Development LLC for one dollar; the company will also have to pay outstanding property taxes and related expenses on the apartment site totaling roughly $20-thousand dollars. JCW Development is a company owned by Beaver Dam-based WDS Construction which now has ownership over three parcels: the hospital, the apartment and a lakefront house they purchased last month that connects both properties.